KOCHI (Commodity Online): As part of its expansion plans, Kerala-based Chemmanur Fashion Jewellers is ready to invest Rs 600 crore for opening new shops across the country and abroad.

Chemmanur Fashion Jewellers, the world’s first jewellery group with BIS and ISO certification for quality, is the leading and fastest growing jewellery company.

Its plans to invest Rs 600 crore in next two years to open 50 new jewellery showrooms across the country and abroad.

The project will be financed through internal accruals and bank loans, for which the company has started negotiations.

In view of offering Gold to middle class people, the company is also launching credit facility under which it is tying up with banks to offer gold at 12 and 24-month instalment period. The credit facility will start from Rs 10,000 to Rs 5 lakh. The objective of providing credit facility is to help customers plan and pay for purchases of gold and jewellery over certain fixed periods of time.

The company feels that This is the best time to set up a Gold showroom as people are now buying gold as an investment. Earlier, it was just worn as ornaments.

The company has also identified plans to open six showrooms in Mumbai. After Vashi, its plans to open stores in Opera House, Goregaon, Vasai, Dombivli, and one place which is yet to be identified.

The jewelry group will also open new showrooms at Ajman in UAE, Singapore and Sri Lanka.

The company has recently launched Picaso collection in mixed and traditional and has received good response in the market.

The company hopes that gold prices would remain firm due to heavy demand from investors, who buy gold for investment purpose.

The company have made a brisk sale of gold jewellery worth Rs 60 crore during the Diwali festival.

The gold prices, now ruling around Rs 16,000 per 10 gm, may cross Rs 18,000 in one year and Rs 20,000 per 10 gm in two years’ time, the jewellers forecast.

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